Several common methods used for evaluating proposals for capital expenditures and for comparing and selecting alternative machines or equipment involving capital assets are discussed:- 1. Total life average method, 2. Annual cost method, 3. Present worth method, 4. Rate of return method, 5. MAPI method, and 6. Approximate MAPI solution. 1. Total Life Average Method: Steps Involved: (i) Add the [...]
After reading this article you will learn about:- 1. Introduction to Foreman 2. Duties and Responsibilities of a Foreman/the Supervisor's Job 3. Qualifications 4. Qualities. Introduction to Foreman: A Foreman generally designated by Supervisor (in most of the industries) is a person in charge of, and coordinator of, the activities of a group of workers engaged in one type of [...]
After reading this article you will learn about:- 1. Introduction to Suggestion System 2. Purpose (Objectives) of Suggestion System 3. Procedure 4. Problems. Introduction to Suggestion System: One of the most successful bridges between plant-improvement efforts and good industrial relations is the use of a suggestion system. A suggestion system taps the tremendous store of ideas that rest in the [...]